Current Research Papers
“Housing and the Great Depression”
By Mehmet Balcilar,
Rangan Gupta, and Stephen M. Miller
“Does Financial Development Volatility Affect
Industrial Growth Volatility?”
By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller
“Was the Recent Downturn in US GDP
Predictable?”
By Mehmet Balcilar,
Rangan Gupta, Anandamayee Majumdar, and Stephen M. Miller
“Fiscal Policy Shocks and the Dynamics of Asset Prices: The South
African Experience”
By Goodness C. Aye, Mehmet Balcilar, Rangan Gupta, Charl Jooste, Stephen M. Miller and Zeynel Abidin Ozdemir
“Banking Market Structure, Liquidity Needs, and
Industrial Growth Volatility”
By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller
By Mehmet Balcilar, Rangan, Gupta, and Stephen M. Miller
“Purchasing Power Parity between the UK and the Euro Area”
By Giorgio Canarella, Stephen M. Miller, and Stephen K. Pollard
“Output Growth and Its Volatility: The Gold
Standard through the Great Moderation”
By WenShwo Fang and Stephen M. Miller
“The Bank Lending Channel and Monetary Policy Rules for European
Banks: Further Extensions”
By Nicholas Apergis, Stephen M. Miller, and Effrosyni
Alevizopoulou
“The Effect of Growth Volatility on Income
Inequality”
By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller
“Demographic Transition and Economic Welfare:
The Role of Humanitarian Aid”
By Kyriakos C. Neanidis and Stephen M. Miller
“Firm Profitability: Mean-Reverting or Random-Walk Behavior?”
By Giorgio Canarella, Stephen M. Miller, and Mahmoud M. Nourayi
“The Effect of ESCOs on Carbon Dioxide Emissions”
By WenShwo Fang and Stephen M. Miller
“Do ESCOs Effectively Reduce Energy Use?”
By WenShwo Fang and Stephen M. Miller
“The Global Financial
Crisis and Stochastic Convergence in the Euro Area” International Advances in Economic Research, August 2011
By Giorgio Canarella, Stephen M. Miller, and
Stephen K. Pollard
“Using
Large Data Sets to Forecast Sectoral Employment”
By Rangan Gupta, Alain Kabundi,
Stephen M. Miller, and Josine Uwilingiye
“Forecasting Nevada Gross Gaming Revenue and
Taxable Sales Using Coincident and Leading Employment Indexes”
By Mehmet Balcilar,
Rangan Gupta, Anandamayee Majumdar, and Stephen M. Miller
By Nicholas Apergis, Christina Christou, and Stephen M. Miller
“Convergence Patterns in Financial Development: Evidence from Club
Convergence”
By Nicholas Apergis, Christina Christou, and Stephen M. Miller
“Financial
Market Liberalization, Monetary Policy, and Housing Price Dynamics”
By Rangan Gupta, Stephen M. Miller, and Dylan
van Wyk
“Unit Roots and Structural Change: An Application to US House-Price Indices” Shorter version in Urban Studies, March 2012
By Giorgio Canarella, Stephen M. Miller, and
Stephen K. Pollard
“The Lag in Effect of Inflation Targeting and
Policy Evaluation” Applied Economic Letters, 18(14) 2011
By WenShwo Fang and Stephen M. Miller
“What Can We Learn about Inflation Targeting?
Evidence from Time-Varying Treatment Effects”
By WenShwo Fang, Stephen M. Miller, and ChunShen Lee
“The Great Moderation and Leptokurtosis after
GARCH Adjustment” Shorter version in Empirical Economic Letters, June 2010
By WenShwo Fang, Stephen M. Miller, and ChunShen Lee
"Understanding
Central Bank Loss Functions: Implied and Delegated Targets”
By Huiping
Yuan and Stephen M. Miller
“Forecasting the US Real House Price Index: Structural and Non-Structural Models with and without Fundamentals” Economic Modelling, July 2011
By Rangan Gupta, Alain Kabundi,
and Stephen M. Miller
“Monetary
Policy and Housing Sector Dynamics in a Large-Scale Bayesian Vector
Autoregressive Model”
By Rangan Gupta, Marius Jurgilas,
Alain Kabundi, and Stephen M. Miller
“Using
Large Data Sets to Forecast Housing Prices: A Case Study of Twenty US States” Journal of Housing Research, 20(2) 2011
By Rangan Gupta, Alain Kabundi,
and Stephen M. Miller
“Time
Series Properties of Housing Prices: A Case Study of the Southern California
Market” Journal of Real Estate
Finance and Economics, April 2012
By Rangan Gupta and Stephen M. Miller
“‘Ripple
Effects’ and Forecasting Home Prices in Los Angeles, Las Vegas, and Phoenix” The Annals of Regional Science, 48(3), 2012
By Rangan Gupta and Stephen M. Miller
"The
Principal-Agent Approach to Monetary Policy Delegation” In
Challenges in Central
Banking: The Current Institutional Environment and Forces Affecting Monetary
Policy, eds. P. L. Siklos, M. T. Bohl,
and M. E. Wohar, Cambridge University Press, 2010
By Georgios
E. Chortareas and Stephen M. Miller
“Do Structural Oil-Market Shocks Affect Stock
Prices?” Energy Economics, July
2009
By Nicholas Apergis and Stephen M. Miller
“Geographic Deregulation and Commercial Bank Performance in US State Banking Markets” Quarterly Review of Economics and Finance, February 2011
By Yong-Dong Zou, Stephen M. Miller, and
Bernard Malamud
“Is the Great Moderation
Ending? UK and US Evidence” Modern Economy, May 2010
By Giorgio Canarella, WenShwo
Fang, Stephen M. Miller, and Stephen K. Pollard
“Does
a Threshold Inflation Rate Exist? Quantile Inferences
for Inflation and Its Variability” Shorter version in Empirical
Economics, December 2010
By WenShwo Fang, Stephen M. Miller, and Chih-Chuan Yeh
“Cross-Country
Evidence on Output Growth Volatility: Nonstationary
Variance and GARCH Models” Scottish Journal of Political Economy, September 2008
By WenShwo Fang, Stephen M. Miller, and ChunShen Lee
"Modeling the
Volatility of Real GDP Growth: The Case of Japan Revisited" Japan
and the World Economy, August 2009
By WenShwo
Fang and Stephen M. Miller
“Cost Improvements, Returns to Scale, and
Cost Inefficiencies for Real Estate Investment Trusts”
By Stephen M. Miller and Thomas M. Springer
"Total
Factor Productivity and Monetary Policy: Evidence from Conditional Volatility"
International Finance, Summer 2007
By Nicholas Apergis
and Stephen M. Miller
"Restructuring the Wealth Effect on
Consumption: Further Analysis and Extension"
By Nicholas Apergis
and Stephen M. Miller
"The
Great Moderation and the Relationship between Output Growth and Its
Volatility" Southern Economic Journal, January 2008
By WenShwo
Fang and Stephen M. Miller
"A General Schema for Monetary Policymaking: Objectives and Rules” Economic Modelling, May 2010
By Huiping
Yuan and Stephen M. Miller
"The Walsh Contract for Central Bankers
Are Optimal After All!” Public Choice, April 2007
By Georgios
E. Chortareas and Stephen M. Miller
By Huiping
Yuan and Stephen M. Miller
"The Making of Optimal and Consistent
Policy: An Analytical Framework for Monetary Models” Scottish Journal of Political Economy,
February 2011
By Huiping
Yuan, Stephen M. Miller, and Langnan
Chen
"Designing Central Bank Loss Functions”
International Journal of
Business and Economics, April 2010
By Huiping
Yuan and Stephen M. Miller
“Economies of Scale and Cost Efficiencies: A
Panel-Data Stochastic-Frontier Analysis of Real Estate Investment Trusts” The
Manchester School, July 2006
By Stephen M. Miller, Terrence M. Clauretie, and Thomas M.
Springer
”Using Equity Markets to Teach Long-Run Monetary
Neutrality” International Review of Economics Education, June 2010
By Stephen M. Miller
“Export
Promotion through Exchange Rate Policy: Exchange Rate Depreciation or
Stabilization” Southern Economic Journal, January 2006
By WenShwo
Fang, YiHao Lai, and Stephen M. Miller
“Does
Exchange Rate Risk Affect Exports Asymmetrically? Asian Evidence”
By WenShwo Fang, YiHao
Lai, and Stephen M. Miller
"Exchange
Rate Depreciation and Exports: The Case of Singapore Revisited" Applied
Economics, February
2007
By WenShwo
Fang and Stephen M. Miller
"The
Value of Waiting: Foreign Direct Investment with Uncertainty and Imperfect
Local Knowledge"
By Yongil
Jeon, Taekwon Kim, and
Stephen M. Miller
"The
Geographic Distribution of the Size and Timing of Monetary Policy Actions"
By Yongil
Jeon and Stephen M. Miller
"Inflation
Targeting and Output Growth: Evidence from Aggregate European Data" International Monetary
Fund Working Paper No. 05/89 and Economic & Financial Modeling, Summer 2008
By Nicholas Apergis,
Stephen M. Miller, Alexandros Panethimitakis,
and Athanassios Vamvakidis
"Consumption
Asymmetry and the Stock Market: New Evidence through a Threshold Adjustment
Model"
By Nicholas Apergis
and Stephen M. Miller
"Consumption
Asymmetry and the Stock Market: Empirical Evidence"
Economics Letter, December 2006
By Nicholas Apergis
and Stephen M. Miller
"Macroeconomic
Rationality and Lucas's Misperceptions Model: Further Evidence from Forty-One
Countries" Journal
of Economics and Business, May-June 2004
By Nicholas Apergis
and Stephen M. Miller
By Yasmina
R. Limam and Stephen M. Miller
"MBA
Program Reputation: Objective Rankings For Students,
Employers, And Program Administrators"
By Yongil
Jeon, Stephen M. Miller, and Subhash
Ray
By Yongil
Jeon and Stephen M. Miller
"Foreign and Domestic Bank
Performance: An Ideal Decomposition of Industry Dynamics"
By Yongil
Jeon and Stephen M. Miller
"Bank
Performance: Market Power or Efficient Structure"
By Yongil
Jeon and Stephen M. Miller
"Deregulation
and Structural Change in the U.S. Commercial Banking Industry" Eastern
Economic Journal, Summer 2003
By Yongil
Jeon and Stephen M. Miller
"Has
Deregulation Affected Births, Deaths, and Marriages in the U.S. Commercial
Banking Industry" Economic Inquiry, April 2007
By Yongil
Jeon and Stephen M. Miller
"Explaining U.S. Commercial
Bank Births, Deaths, and Marriages"
By Yongil
Jeon and Stephen M. Miller
"Do
Foreign Bank Operations Provide a Stabilizing Influence in Korea?" Quarterly
Review of Economics and Finance, February
2006
By Yongil
Jeon, Stephen M. Miller, and Paul A. Natke
"The
Performance of Domestic and Foreign Banks: The Case of Korea and the Asian
Financial Crisis" Global Economic Review, June 2005
By Yongil
Jeon and Stephen M. Miller
"The
Effect of the Asian Financial Crisis on the Performance of Korean Nationwide
Banks" Applied Financial Economics, 1 March 2004
By Yongil
Jeon and Stephen M. Miller
"The
Real Exchange Rate in Small Open Developed Economies: Evidence from Cointegration Analysis" Economic Record, March 2004
By Debabrata
Bagchi, Georgios E. Chortareas, and Stephen M. Miller
"Central
Banker Contracts, Incomplete Information, and Monetary Policy Surprises: In
Search of a Selfish Central Banker?" Public Choice, September 2003
By Georgios
E. Chortareas and Stephen M. Miller
"Optimal
Central Banker Contracts and Common Agency" Public Choice, October 2004
By Georgios
E. Chortareas and Stephen M. Miller
"Monetary
Policy Delegation, Contract Costs, and Contract Targets" Bulletin
of Economic Research, January 2003
By Georgios
E. Chortareas and Stephen M. Miller
"The
Relationship between Large Fiscal Adjustments and Short-Term Output Growth
under Alternative Fiscal Policy Regimes" Contemporary Economic
Policy, January 2003
By Stephen M. Miller and Frank
S. Russek
"Productivity
Growth in Large US Commercial Banks: The Initial Post-Deregulation
Experience" Journal of Banking and Finance, May 2001
By Kankana
Mukherjee, Subhash C. Ray
and Stephen M. Miller
"Teaching
Time Preference and Human Impatience: The Billionaire Game"
By Stephen M. Miller
"The
Perception of Government Bonds and Money as Net Wealth: An Integrated
Approach" Eastern Economic Journal, Fall 1998
By Alpha C. Chiang and Stephen
M. Miller
"An
Endogenous Model of Union Density and Membership"
By Habib
Ahmed and Stephen M. Miller
By Stephen M. Miller and Mukti P. Upadhyay
"Total
Factor Productivity and the Convergence Hypothesis" Journal of
Macroeconomics, June 2002
By Stephen M. Miller and Mukti P. Upadhyay
"The
Effects of Openness, Trade Orientation, and Human Capital on Total Factor
Productivity" Journal of Development Economics, December 2000
By Stephen M. Miller and Mukti P. Upadhyay
"The
Exchange Rate-Investment Nexus and Exchange Rate Instability: Another Reason
for ‘Fear of Floating’" Keio
Economic Studies, forthcoming
By Habib
Ahmed, C. Paul Hallwood, and Stephen M. Miller
"Crowding-Out
and Crowding-In Effects of the Components of Government Spending" Contemporary
Economic Policy, January 2000
By Habib
Ahmed and Stephen M. Miller
"The
Level of Development and the Determinants of Output Growth: A Cross-Country
Analysis" Applied Economics, June 2002
By Habib
Ahmed and Stephen M. Miller
"Monetary
and Exchange Rate Policy in Multisectoral Economies” Journal
of Economics and Business, July/August 1997
By Habib
Ahmed and Stephen M. Miller
"Using
Leading Indicators to Forecast U.S. Home Sales in a Bayesian VAR
Framework" Journal of Real Estate Finance and Economics, March 1999
By Pami
Dua, Stephen M. Miller, and David J. Smyth
"Performance
Evaluation of the New Connecticut Leading Employment Index Using Lead Profiles
and BVAR Models" Journal of Forecasting, September 2006
By Anirvan
Banerji, Pami Dua, and Stephen M. Miller
By Victor Olivo
and Stephen M. Miller
"Optimal Negotiated Transfer Pricing
and Its Implications for International Transfer Pricing of Intangibles"
By Peter C. Dawson and Stephen
M. Miller
"Currency Depreciation and Korean Stock
Market Performance during the Asian Financial Crisis"
By WenShwo
Fang and Stephen M. Miller
"Dynamic Effects of Currency
Depreciation on Stock Market Returns during the Asian Financial Crisis"
By WenShwo
Fang and Stephen M. Miller
"Explaining
Recent Connecticut Bank Failures"
By Stephen M. Miller and Athanasios G. Noulas